A defendant shall be punished by imprisonment for not less than one year and six months.

Punishment of the crime

On May 22, 2003, the Defendant was sentenced by the Seoul High Court to two years of imprisonment for a violation of the Act on the Regulation of Fraud and Similar Receiving Act, and the execution of the sentence was terminated on October 11, 2004. On September 7, 2012, the Seoul Central District Court sentenced one year of imprisonment for a crime of fraud at the Seoul Central District Court, and the said judgment became final and conclusive on the 15th of the same month.

1. The defendant in violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) is the vice-chairperson of the Co., Ltd. (hereinafter "C"), and has overall control over the investor recruitment business. At the office located in the fourth floor of the building in Gangnam-gu Seoul, Seoul, between June 25, 2007 and October 12, 207, the defendant received recommendation allowances and class allowances from the Co., Ltd. (hereinafter "C"), in collusion with D, the representative director of C, from June 25, 2007 to October 12, 2007, "C has imported large vessels in Thailand, repaired them for maritime tourist hotel and sells them for high profits. When investing KRW 500,000,000 in the C, it would pay KRW 40,000,000,000 per share for 1.640,000,000 won per share for 16 weeks.

However, in fact, the maritime tourist hotel business promoted in C did not have assets or profit-making enterprises to pay high rates of profits to investors, and it was impossible to realize considerable profits within a short time due to lack possibility of success. C is not enough to pay most of the investments received from investors as an employee of a small number of employees who engage in illegal fund-raising business, and it is not easy to expand the amount of profits to be paid to investors.